Crypto World

U.S. Court Dismisses Years-Long Scam Token Lawsuit Against Uniswap Labs

Published

3 weeks ago

3 March 2026

A federal court in the United States has dismissed a class action lawsuit accusing Uniswap Labs of facilitating the trading of scam tokens on its decentralized protocol. The court dismissed the plaintiffs’ claims with prejudice after four years of trial.

According to a filing with the U.S. Court for the Southern District of New York, Judge Katherine Polk Failla dismissed the case for several reasons, including the plaintiffs’ failure to allege the defendants’ knowledge of the fraud. Among other reasons, the judge also ruled that the plaintiffs failed to allege that Uniswap Labs and its founder, Hayden Adams, aided, abetted, and substantially assisted the fraud.

Uniswap Wins Scam Token Class Suit

While filing the initial complaint and the first amended complaint (FAC) in April and September 2022, respectively, the plaintiffs alleged 14 claims against Uniswap, Adams, and other defendants. The complainants argued that the defendants were liable for scam tokens issued and traded on Uniswap.

The argument stemmed from the fact that the identities of the scam token issuers were unknown. They claimed that Uniswap served as a marketplace for the tokens in exchange for transaction fees. The plaintiffs also insisted that the defendants had, in effect, sold the tokens as unregistered broker-dealers by drafting smart contracts that enabled ownership of the protocol’s native asset, UNI.

By August 2023, the court dismissed the FAC for failure to state a claim under federal securities laws. Judge Failla insisted that the accusers’ attempts to hold defendants liable for the losses from the scams were unconvincing. Although the complainants appealed the dismissal, the Second Circuit court affirmed the judge’s decision in part in February 2025. The appeal resulted in the plaintiffs again being allowed to amend their complaint.

No Plausible Claims

In the second amended complaint (SAC) filed in May 2025, the accusers focused on state-law violations. By this time, the judge had dismissed all defendants except Uniswap and Adams. By July, the defendants had filed a motion to dismiss under the Federal Rules of Civil Procedure.

In dismissing the SAC, Judge Failla insisted that the plaintiffs still failed to allege plausible claims against Uniswap, despite three attempts.

“Even if Plaintiffs had adequately alleged Defendants’ actual knowledge, their claim would still fail because they have not alleged that Defendants provided substantial assistance to the issuers’ fraud,” the judge stated.

Meanwhile, Adams commented on the dismissal, calling it a “good, sensible outcome.”

The post U.S. Court Dismisses Years-Long Scam Token Lawsuit Against Uniswap Labs appeared first on CryptoPotato.

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Crypto World

Analysts Say This Must Happen for Ethereum to Take Out Resistance at $2.2K

Published

6 minutes ago

24 March 2026

NewsAdmin

Analysts Say This Must Happen for Ethereum to Take Out Resistance at $2.2K

Ether’s (ETH) 9% rally on Monday stalled at $2,200 due to stiff overhead resistance and weak ETF demand. Still, technical and onchain setups suggested that upward momentum may increase as long as ETH stays above the $2,000 mark.

Key takeaways:

Ether bulls must flip the $2,200 level into new support.
Spot ETF outflows continue, reflecting increasing institutional sell pressure.

Ether price must hold $2,200 as support

Data from TradingView shows that ETH price is stuck between two key trend lines: the 50-day exponential moving average (EMA) at $2,200 acting as resistance and the 50-day SMA at $2,000 as support.

ETH bulls must now reclaim the 50-day EMA to ensure a sustained recovery toward $3,000.

The last time ETH/USD broke out of such a range was in May 2025, triggering a 50% rally in less than seven days.

*ETH/USD daily chart. Source: Cointelegraph/TradingView*

A break above $2,200 would confirm a bullish breakout from a symmetrical triangle pattern, with a measured target of $3,080, or a 42% rise from the current level.

Before this, however, the bulls would have to contend with stiff resistance between $2,780 and $2,880, where the 200-day EMA, the 50-week EMA, and the 100-week EMA converge.

Glassnode’s cost basis distribution heatmap shows a heavy accumulation at $2,750-$2,850, where investors acquired more than 7.5 million ETH.

Notably, there is a relatively low concentration of supply between $2,200 and the $2,700 cost-basis cluster, meaning a break above the current range may allow the price to move more freely toward the bigger overhead resistance.

*ETH: Cost basis distribution heatmap. Source: Glassnode*

On the downside, a dense accumulation cluster sits around $1,850, where investors previously acquired 1.3 million ETH.

If the $1,850-$2,000 support gives in, it could trigger the next leg lower toward the bearish target of the triangle at $1,400.

“$ETH failed to reclaim the $2,100 level and is now moving down,” analyst Ted Pillows said in a Monday post on X, adding:

“Now, the only crucial support level for Ethereum is $2,000 and if ETH loses it, the dump will accelerate to new lows.”

*ETH/USD daily chart. Source: Ted Pillows*

As Cointelegraph reported, holding above $2,000 would keep the medium-term trend intact, while a break below shifts the positioning toward aggressive short exposure, with the lower targets in focus.

Ethereum ETF inflows must return

One factor that could trigger an ETH price breakout is a resurgence in institutional demand, which has diminished with outflows from spot Ether exchange-traded funds (ETFs) over the last four days.

Data from Glassnode shows the 30-day average of the US spot ETH ETF flows drifting back into the negative zone after a short period of inflows.

If flows can re-accelerate into consistent positive territory, it would strengthen the case for renewed trend continuation for ETH.

*Spot Ether ETF net flows, 30DMA. Source: Glassnode*

Similarly, investors reduced exposure to global Ethereum investment products, which recorded over $27.5 million in net outflows during the week ending March 20.

Meanwhile, the number of Ethereum treasury companies buying ETH on a daily basis has dropped sharply since August 2025, reinforcing the decline in institutional demand.

*Ethereum treasury companies buyers. Source: Capriole Investments*

Tom Lee’s Bitmine Immersion Technologies, the largest corporate Ethereum treasury holder, is the only company that appears to be buying, adding $139 million worth of ETH last week.

Bitmine’s total ETH holdings are now 4.66 million ETH, bringing it closer to its goal of acquiring 5% of the token’s circulating supply.

⚡️ LATEST: Bitmine ($BMNR) now holds 4.66 million $ETH and $11 billion in total crypto and cash assets. pic.twitter.com/mijC9tANBN
— Cointelegraph (@Cointelegraph) March 23, 2026